15 Aug How ELIFIN® Navigated a Challenging Due Diligence Period to Save the Transaction
Brady Becker and Adrien Foley of ELIFIN® represented the buyer in the successful acquisition of the ±14,699 SF retail property located at 102 Hatchell Lane in Denham Springs, LA.
Challenge
The due diligence process uncovered a pair of title issues that brought the transaction to the edge of collapse. An outdated survey and discrepancies across two separate abstracts of title made it impossible to establish the correct dimensions of the parcel with any certainty. Compounding that, an old mineral lease appeared to retain a right of access to the property, introducing another layer of ambiguity that had to be resolved before the buyer could proceed with confidence. Until both issues were addressed, the deal had no clear path forward.
Strategy
Brady and Adrien filed extensions to the due diligence period to buy the time needed to work through the problems properly. Rather than accept the conclusions already on the table, they engaged a third-party title company and an independent surveyor to provide a second opinion on both the boundary discrepancies and the mineral lease question. When the deal was on the verge of terminating, Brady and Adrien stepped in to coordinate the additional vendors directly, keeping the buyer engaged and the transaction alive through the most uncertain stretch of the process.
Result
The title issues were resolved and the transaction closed. The buyer added a well-performing retail asset to his portfolio, placing his exchange funds into a deal that had required significant effort just to reach the closing table. Brady and Adrien navigated a transaction that involved a REIT, a national title company, and a national brokerage on the other side, delivering a clean close on a deal that had every reason to fall apart.
Leading Agents
Brady Becker
No Comments